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BTC/USD traded near 78,900.00 early Wednesday after briefly breaking above 81,000.00 for the first time since May. The price later slipped below 78,000.00 following the release of US inflation data. Bitcoin is still up approximately 24–25% since the beginning of August, with the monthly range extending from 62,232.00 to 81,142.00.
The XRP/USD pair continues to trade within a medium-term downward trend, forming a corresponding descending channel. This week, the price resumed its decline and is now approaching the lower boundary of the channel. A breakout below 1.9531 (Murray level [2/8]) could lead to a test of the targets at 1.5625 (Murray level [0/8]) and 1.1719 (Murray level [–2/8], Fibonacci extension 100.0%). The key level for the bulls remains 2.7344 (Murray level [6/8], upper Bollinger Band). Securing above this area would mark an exit from the descending channel through the upper boundary and signal a potential continuation toward 3.1250 (Murray level [8/8]) and 3.5156 (Murray level [+2/8]), although this scenario currently appears less likely.
A sharp sell-off across Bitcoin, Ethereum, and other major cryptocurrencies has shaken investor confidence. BTC is holding just above the $100,000 mark, reflecting a broad deterioration in market sentiment.
Ethereum has slipped below $3,400, wiping out its year-to-date gains. The second-largest cryptocurrency couldn’t escape the broad sell-off sparked by Bitcoin’s correction.
Bitcoin has seen a sharp drop of more than 14% since October 6, but on-chain data tells a different story.
The crypto market has lost nearly $150 billion in value, with most coins down between 5% and 10%. Bitcoin fell by 3%, Ethereum by 6%, and some altcoins like Solana dropped as much as 10%. Almost all major cryptocurrencies are trading in the red.
The ETH/USD pair is forming a medium-term downtrend while correcting within a long-term uptrend. Last week, the price tested the lower boundary of the descending channel at 3540.00 (Fibonacci 38.2% retracement). A breakdown below this level could push the pair toward 3125.00 (Murray [2/8], Fibonacci 50.0%) and 2500.00 (Murray [0/8]). However, if the price breaks above 4062.50 (Murray [5/8], Fibonacci 23.6%) and the middle Bollinger Band, it could exit the range and continue higher toward 4687.50 (Murray [7/8]) and 5000.00 (Murray [8/8]).
Due to heavy selling by major Bitcoin holders, the cryptocurrency started the week with a fresh decline.
Last week, the BTC/USD pair saw a sharp downside correction, testing the 106,250.00 level (Murray level [2/8]) amid signals that the U.S. Federal Reserve could keep its interest rate unchanged in December, as well as the underwhelming outcome of the much-anticipated meeting between the U.S. and Chinese leaders.
More than 2.3 million Solana (SOL) — about $425 million — jumped between wallets in under 30 minutes on November 1. According to Whale Alert, part of the funds ended up on Coinbase, while the rest moved through a chain of unknown addresses. No one has said publicly what the purpose was, so the market is now guessing: was it a whale reshuffling coins, or was it an institutional desk moving liquidity in bulk?
Crypto Market Overview. This week, the cryptocurrency market has seen a broad correction: BTC is trading near 109,375.00 (–3.6%), ETH around 3,830.00 (–7.1%), USDT at 1.0008 (–0.04%), BNB near 1,100.00 (–2.6%), and XRP at 2.4700 (–5.7%). Total market capitalization dropped to $3.67 trillion, while Bitcoin’s dominance reached 59.3%. Bitcoin ETFs added $607.4 million, whereas Ethereum ETFs remained flat at $114.3 million.
“Uptober” has officially fizzled out: crypto markets are sliding as Bitcoin and Ethereum struggle to hold key levels.
Coinbase shows solid growth in the third quarter — stablecoins and derivatives are on the rise
For crypto, the framework is similar to traditional financial markets but comes with its own twist. Here, price action turns on liquidity, adoption, regulation, and flows from institutions alongside retail sentiment. Network health—hash rate, staking, active wallets—adds another layer. Macro still matters too: rates, dollar strength, and risk appetite shape inflows and outflows. Then, as with any market, you use the chart—trend, support and resistance, momentum, and volume—to spot setups and manage risk.